Penny Stock Watchlist 10.13.10 ASTI MOTR GERN NLST ARUN BORN ARTW HDY
This market is absurd! From the pivot rally point on September 1st to now the DOW has blasted over a thousand points. It’s seems stocks are juiced like Barry Bonds and Sammy Sosa in a home run shoot out. Well, maybe Lenny “nails” Dykstra. At one time he traded options. Remember the subscription service he had ” Nails on the Numbers”? Now he is bankrupt, he was juicing too. Cramer even called him the next “great”. That Cramer is a smart man.
As shorting is mainly my bread and butter I can’t ignore some of these buy signals. I believe the market has some more upside to it. There will be plenty of shorting opportunities out there just be careful in this environment keep your targets tight. In this type of market it’s easy to force trades and that’s where the real losses come from.
ASTI
More and more solar. Our members know we have been around the block with solar companies as of late like LDK, JASOetc. One of these squirrels creep up every day. ASTI was the big victor on my screes. ASTI is off the charts the last two days. I thought ASTI would be a good short at 5.50 but I was wrong. I would love to short this but it may get to $6 before that’s a smart play. Will watch closely Wednesday.
MOTR
What a monster. I was certain that there would be a 20-30c correction during the last hour but I was dead wrong. Good thing I couldn’t find shares because it was too early for shorting. This stock can shake out the weak and put you in hurt locker if you are too aggressive. The spread on this stock is medieval at times, ranging from .25c to 80c and this may steer me away from trading it . The RSI is almost at 90! Chart is kind of reminiscent of BORN. This stock is probably not done squeezing shorts yet. Huge orders were filled at the close and more buying is on a/h
GERN
Ripped right through technical double top resistance today. No difference here than the other stocks on the list, overbought. Let it keep going higher it will sweeten the pot. Even though GERN is up from the clinical trial of human embryonic stem cell (hESC). The company has no cash and is spending about $10 mill a quarter . This is all the company has. Too unsustainable at these levels and GERN is still too far away from approval
NLST
Went up today. This should tell you how overbought we are. NLST redefines horrible. I know they had some good news but I’m not even going to look it up because I know it’s fluff. This is the stock that cried wolf. I really hope it can get a push to $ but that is a lot of hope. What I expect is to see some insiders dumping shares on it.
ARUN
This had a very nice pivot level breakout on the daily chart. My stance is bullish with an upside target of $22. However, I will not chase anything in this market. If it gaps up in the a.m. which it very well may do, I will forget it. Not completely my style but the possibilities are there
Keep these on watch. BORN ARTW HDY